GE to build global research center in Oklahoma for shale gas technologies

The new facility, which is GE Research’s first sector-specific center, represents a $110 million investment by the company and will initially result in the creation of 125 high-tech engineering jobs, in disciplines ranging from mechanical and electrical to systems and software engineering.

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General Electric (GE) will build a new global
research center in Oklahoma dedicated to driving innovation and
technological advancements in the oil and gas sector and
bringing products to market faster, the company said on
Friday.

The new facility, which is GE Researchs first
sector-specific center, represents a $110 million investment by
the company and will initially result in the creation of 125
high-tech engineering jobs, in disciplines ranging from
mechanical and electrical to systems and software
engineering.

These researchers will join GEs global network of 50,000
scientists and engineers.

GE chief executive Jeff Immelt and Oklahoma Governor
Mary Fallin jointly made the announcement at the state
capitol in Oklahoma City.

The launch of the new center comes as the availability of
unconventional resources, such as shale gas, is changing the
global energy landscape and has the potential to create jobs,
fuel innovation and lead to greater energy independence,
according to the company.

GE says the center will initially focus on technologies that
enable safe, efficient and reliable production, delivery and
use of unconventional oil and gas.

GE Oil & Gas is said to be the company's
fastest-growing business, with revenues of more than $15
billion and earnings and new orders each growing 16%
in 2012. GE's oil and gas portfolio includes technologies and
services in turbomachinery, subsea drilling, pressure control,
remote monitoring and diagnostics.

Unconventional resources, and shale gas in particular,
may be one of the biggest productivity drivers of our
lifetime, said Immelt. At GE, we see a tremendous
opportunity in the oil and gas space. Since 2007, we have
invested $11 billion to build broad technical capabilities that
can deliver productivity gains and foster innovation for our
customers.

"Collaboration is key to leading the unconventional resource
revolution, and in Governor Fallin and the people of Oklahoma,
weve found excellent partners," he added.

Oklahoma City is home to GE's artificial lift business, which
is a leader in electric submersible pump (ESP) manufacturing
and services with more than 550 GE employees.

The company says a search for a specific site for the new
research center is underway and expected to be completed soon.
GE is currently evaluating locations that will help the company
capitalize on local academic institutions, including the
University of Oklahoma, as well as Oklahoma City's regional
workforce.